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Mitt Romney's campaign so far has offered tantalizingly few details about what it plans to do about several issues prominent in this election..
One which has received little attention is what Romney intends to do about the ongoing housing crisis in America. Although it was originally the driving force behind the 2008 recession, it has slowly faded into the background as other economic issues such as gas prices have arisen. However, Romney has made some statements so far on the campaign trail that have hinted at what he may be planning to do should he win the election this November.
Part of Romney's vision for a housing recovery can be seen through his criticisms of Obama's handling of the issue so far during his presidency. Romney has been quick to note that over the course of Obama's first term there have been more than 3 million foreclosures. Romney has also stated that part of the reason behind this is that the economy has been a poor performing economy with 39 straight months of unemployment above 8%..
In a sense, Romney indicates that in order for the housing crisis to be resolved the country must first get its economy back on track.
In the past, Romney has offered a laissez-faire attitude towards the depressed housing market. He once said "don't try and stop the housing problem. Let it run its course and hit the bottom". This may be a hint that Romney won't interfere directly with the market forces that are driving the housing market right now..
He has also hinted at cutting some government programs that are currently involved in regulating and controlling the housing market. Romney stated that "things like Housing and Urban Development...might not be around later". This may be indicative of a larger plan to cut additional government expenditures that have previously been involved with a strong and thriving housing market historically.
In all, Romney may not have a direct plan for spurring on a housing recovery, but rather a more overarching plan for a complete economic recovery. Romney intends to reduce the top corporate income tax bracket to 25%, which he has claimed will spur a faster economic recovery..
Romney has also promised to roll back many of the industry regulations enacted by Obama ~ It is unclear how this will directly affect the housing recovery, but Romney is likely banking on it making it easier to banks to start re-issuing loans to potential home owners..
Author Jeff Hammerberg is the Founding CEO of www.GayRealEstate.com ~ Free Instant Access to the Nation’s Top Gay, Lesbian and Gay Friendly Realtors Coast to Coast..